The price of bitcoin sank 5.5% in the past 24 hours.
The reversal wasn’t much of a shock to many crypto analysts.
Dimon echoes the prevailing sentiment that’s been weighing down stocks, and by extension, cryptos this year.
Over the past two days, bitcoin lost 7% to around $29,700 and ethereum plunged 9% to around $1,800.
“I think the key for long term price appreciation is, we need to see a risk bid come back into markets,” wrote Ben McMillian, chief investment officer at IDX Digital Assets.